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DuPage County Becomes One of the First Counties in Illinois to Launch Commercial PACE Program

Commercial PACE financing for energy-efficiency projects is now available in DuPage County

The Illinois Energy Conservation Authority NFP (IECA) is pleased to announce that it has been selected by DuPage County as the program administrator for its commercial Property Assessed Clean Energy (PACE) financing program. The passing of the PACE legislation by the DuPage County Board makes DuPage County one of the first commercial real estate PACE (“C-PACE”) programs in Illinois.

“We are pleased to be among the first in Illinois to offer this tool to our DuPage commercial property owners. The PACE program provides a convenient, cost-effective way for businesses to make important improvements to their properties, resulting in energy efficiency and savings. We encourage these types of improvements because they benefit the environment and individual businesses, strengthening our local economy,” said DuPage County Board Chairman Dan Cronin.

Recently introduced in Illinois, C-PACE is an innovative financing tool that provides low-cost, long-term funding for energy efficiency, renewable energy and water conservation projects in commercial properties. PACE financing is currently available in 36 states and Washington, D.C. From 2009 to 2018, PACE programs have funded 1,934 qualifying projects for a total of $883 million, while also creating over 12,000 jobs.

“From working with stakeholders to develop the C-PACE law to implementing the program in Illinois, the IECA team has been in the forefront of bringing this beneficial program to Illinois,” commented Mark Pikus, president of the IECA. “We’re thrilled that DuPage County is offering the C-PACE program for its commercial real estate owners and we look forward to supporting the community’s economic development.”

The IECA is uniquely positioned to assist the region in establishing successful commercial PACE programs that will support greater economic development activity, as well as contribute to developing high performing buildings through installation of energy efficiency and clean energy technologies.

The IECA is a not-for-profit organization that was formed out of a commitment to bring C-PACE program administration to the Chicagoland area. For more information on IECA visit www.iecaPACE.org

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Indiana Tech has one of nation’s Best Online Bachelor’s in Entrepreneurship

Indiana Tech has been recognized by BestColleges as having one of the nation’s Best Online Bachelor’s in Entrepreneurship.
BestColleges is a college planning resources designed to help students find the best school for achieving their educational goals. It does so by conducting research and assembling rankings, which are intended to guide prospective students toward institutions that provide a quality education and a meaningful learning experience at an affordable cost. It also offers additional free college planning, financial aid and career resources.
Indiana Tech’s Bachelor of Science in Business Administration, concentrating in entrepreneurial studies, was ranked 18th out of 25 universities recognized. The program is led by Dr. Staci Lugar Brettin, associate professor of marketing and management at Indiana Tech.Read more: https://www.indianatech.edu/news/indiana-tech-has-one-of-nations-best-online-bachelors-in-entrepreneurship/

John Paul DeJoria, Global Philanthropist and American Entrepreneur, has completed the acquisition of the 80.55-acre, three building former McDonald’s corporate headquarters campus in Oak Brook, Illinois. The purchase price was not disclosed.

Perry Higa, Senior Vice President of NAI Hiffman, represented John Paul in the transaction. JLL’s team of Scott Miller and Lindsey Fahey represented McDonald’s in the sale.

The headquarters campus includes the former McDonald’s Headquarters which is approximately 331,630 square feet, the former Hamburger University which is approximately 130,484 square feet of training, corporate meeting space and office space as well as 741 covered parking space and additional surface parking throughout the campus. All buildings are connected via covered, outdoor pathways.

The third building on the campus is a 218-key Hyatt branded hotel. The Hyatt Lodge, as it is called, has continued full operations since McDonalds moved to downtown Chicago. The hotel continues to book future events.

One of the great benefits to the campus is its natural beauty with lakes, streams, creeks and trees scattered throughout the property.

“This Campus comes with a rich history and significance to the community, and there’s such beauty throughout the entire site. I am honored to continue that legacy, and we look forward to welcoming the next generation of special guests and corporations to the property. There’s most certainly going to be a bright future ahead,” said DeJoria.

According to Higa, specific plans concerning the future of the campus are still being formulated, but the intention is to maintain the current use of the property for commercial office, training, corporate meeting space and other potential commercial users. This will allow the new owner to capitalize on an increasingly limited supply of Class A office space on the east side of Oak Brook and the synergies of an existing state-of-the-art training facility and hotel property.

“Everyone acknowledges the significance of the property both in the culture and history of McDonalds as well as the Village of Oak Brook,” Higa said. “The future plans for the campus will respect its beauty and significance while also embracing and forging ahead with the tremendous opportunity in transforming the campus to modern, Class A standards.”

“On behalf of Oak Brook’s thriving business community, we thank John Paul DeJoria for his investment in Oak Brook. When the founder of such iconic brands as Paul Mitchell and the Patron Spirits Company invests in your town, it means your future is bright. The Greater Oak Brook Chamber of Commerce’s members, Village President Gopal Lalmalani, and Oak Brook’s residents are thrilled to welcome John Paul DeJoria to Oak Brook,” says David Carlin, President and CEO, Greater Oak Brook Chamber of Commerce and Economic Development Partnership.

“There is great opportunity to reposition the existing commercial buildings and attract additional Corporate office, medical office, non-for-profit or for-profit schools and conference center users, among others, to the McDonald’s Campus,” adds Higa. New ownership will be a good neighbor, corporate citizen and steward of the renowned and iconic property.”

Current zoning will allow additional commercial space to be developed on the site.

The former McDonald’s corporate campus is located immediately south of I-88, a major east-west highway connecting the western suburbs to the City of Chicago and providing convenient highway accessibility to O’Hare International Airport and other suburban markets. The campus is located minutes from Oakbrook Center and adjacent to Butler National Golf Course.